06 November 2023 | News
Funds to be used mainly for fuelling the company’s growth and expansion
image credit- shutterstock
New Delhi-based startup Varco Leg Care has announced raising a bridge funding round of Rs 2 crore to advance its mission of revolutionising leg care across India and the world.
This round was led by Neeraj Garg, Former CEO of Hindustan Coca-Cola. Besides participation of existing investors, the round also witnessed participation from multiple new investors, including senior executives from Coca Cola, Emporia UAE, Highway Concessions One - a KKR company, and few HNIs, recognising the immense potential and promise that Varco holds.
Varco Leg Care will be utilising the newly acquired capital to propel the company’s growth across various crucial areas, such as acquisition of top talent, expanding retail presence, appointing key opinion leaders (KOLs), exploring new international markets, integrating cutting-edge technology to enhance treatment adherence, enhancing R&D efforts, and elevating customer retention efforts.
Based on its ambitious and strategic vision for growth, over the next two years, Varco Leg Care is determined to achieve an impressive 10x growth in its Monthly Recurring Revenue (MRR). This transformation shall be driven by several key initiatives, including attracting top-notch experts to strengthen its team, integrating technology into operations for streamlining procedures and enhancing client experiences, and ensuring that the company remains at the forefront of innovation and excellence. Furthermore, Varco will also be expanding its product portfolio, introducing unique topical phyto products for foot ulcers, restless leg syndrome, nail fungus and cellulite.
The startup is actively developing a comprehensive leg care products’ portfolio and plans to strengthen its position across the US market through strategic partnerships with leading marketplaces, as well as to expand to new markets such as Gulf Cooperation Council (GCC) countries.